On Holding AG
Company & revenue
About On Holding AG
Who they are
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through wholesale and direct-to-consumer channels; run specialty, general sporting goods, outdoor, luxury, street fashion, and lifestyle retailers; owned retail stores; and e-commerce platforms.
Detailed revenue, brand and relationship research has not yet been completed for ONON.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
55
Fair
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
66
Fair
Financial Strength
56
Business Quality / Moat
50
Management
100
Growth Quality
54
Risk / Durability
87
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
76
Fair
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
73/100
Building Historical Record
Model Score 73/100 — estimates relative performance potential, distinct from WallStreetScore (company quality).
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
WSS currently rates the company as mixed to moderately strong.
At today’s price, the WSS valuation framework currently reads as relatively attractive.
The model outlook is currently positive.
- •Valuation scores attractively
- •Repurchase headline · Sep 25, 2026
- •Repurchase headline · Sep 22, 2026
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for ONON
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can ONON maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is ONON's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •How is ONON likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •Is ONON's valuation discount tied to a temporary concern or to a longer-term business risk?
Essential Investment Snapshot
Wall Street Score
55
Opportunity Score
76
Market Cap
$10.28B
P/E Ratio
20.9
EPS
$1.44
52-Week High
$51.08
52-Week Low
$26.36
Beta
2.08
Intrinsic Value
$55.32
Analyst Target
$40.00
Shares Outstanding
333.9M
Total Debt
$673.5M
Dividend
No current dividend
Liquidation Value / Share
$6.86
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ONON
Detected from reported data — verify before acting.Repurchase headline · Sep 25, 2026
On Targets CHF 5.6B by 2029, Unveils Football, Golf and $1B Buyback Plan — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
MarketBeatRepurchase headline · Sep 22, 2026
On Holding Stock Pops On $1 Billion Buyback News — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
The Motley FoolRepurchase headline · Sep 22, 2026
On Holding (ONON) Sets Ambitious 2029 Goals with Share Buyback Announcement — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
GuruFocusRepurchase headline · Sep 22, 2026
On Holding Surges 13% as Investor Day Sets Ambitious Sales Target and $1B Buyback; Nike Ticks Up 2% — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
24/7 Wall StreetRepurchase headline · Sep 22, 2026
Switzerland's On Holding plans $1 bln buyback through 2029, sets long-term targets — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
ReutersCommunity Sentiment
0 active · 0 total callsNo personal call yet on ONON.
What the Bulls Say
- +Product opportunity: On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through.
- +Positive free cash flow may provide capacity to invest in growth.
What the Bears Say
No strong bearish data point is currently available.
Bull and bear cases summarize disclosed catalysts, growth opportunities and risks; they are not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
UndervaluedCurrent Price
$30.85
Intrinsic Value
$55.32
Difference
−$24.47
-44.2% vs IV
Margin of Safety
44.2%
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On Holding vs. Boot Barn: Which Footwear Stock Looks Better Placed?
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